Bakery Contract Manufacturing Market Key Trends, Growth And Outlook 2033

The Business Research Company recently released a comprehensive report on the Global Bakery Contract Manufacturing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The bakery contract manufacturing market size has grown rapidly in recent years. It will grow from $22.3 billion in 2023 to $24.93 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to consumer demand for diverse products, cost efficiency and scalability, focus on core competencies, globalization of supply chains, rising disposable income, popularity of convenience foods.

The bakery contract manufacturing market size is expected to see rapid growth in the next few years. It will grow to $36.93 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to expanding middle class, e-commerce growth, rising health and wellness concerns, regulatory compliance and quality assurance, aging population. Major trends in the forecast period include customization and innovation, clean label and health focus, technology integration, supply chain resilience, global expansion.

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Market Drivers and Trends:

The rising consumption of bakery products is expected to boost the growth of the bakery contract manufacturing market going forward. Bakery products refer to a wide range of items that use wheat flour to produce various final bakery-related products. Since most bakeries cannot operate at full capacity to meet the increasing demand for bakery goods, they frequently turn to outside (contract manufacturing) companies to fill in the gaps on those lines; thus, rising bakery product consumption is expected to drive the bakery contract manufacturing market. For instance, according to a report published by the American Bakers Association, a US-based bakery-specific national and state trade association, in 2021, sales of baking ingredients and supplies increased by 18.7% and 16.3%, respectively, in 2020. Further, in October 2022, according to stats sourced from Euromonitor International, 2022 published on the Government of Canada's official website, retail sales of baked goods in the US reached $67.9 billion in 2021 and are expected to reach US$75.8 billion in 2026. Therefore, the rising consumption of bakery products is driving the growth of the bakery contract manufacturing market.

Technological advancement is the key trend gaining popularity in the bakery contract manufacturing market. Major companies operating in the bakery contract manufacturing market are focusing on developing new products. For instance, in September 2021, KPM Analytics, a US-based company operating in vision systems and automation inspection solutions to food manufacturers, launched the new Sightline TheiaVu Compact Vision Inspection Series with breadcrumb analysis capability. The Sightline TheiaVu Series Vision Inspection System is a fully competent benchtop analyzer for bakeries, snack food, and meat producers that measures size, shape, color, and toppings quickly, accurately, and consistently, ensuring final product quality. The crumb analysis capabilities further produce high-quality photos and data of bread items' internal crumb structure. The all-in-one tool delivers a wide range of data for testing, research, quality assurance, and final product inspection while reducing time for quality engineers. It is a valuable tool for increasing production, quality, and profits.

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Major Key Players of the Market:

De Banketgroep B.V.; HACO Holding AG; PacMoore Products Inc.; Blackfriars Bakery; Southern Bakeries LLC; Cibus Nexum BV; Hearthside Food Solutions LLC; Richmond Baking Company; Oakhouse Bakery; Adventure Bakery LLC; Michel's Bakery Inc.; General Mills Inc.; Perfection Foods Ltd.; Bimbo Bakeries USA; Dawn Foods; Flowers Foods; Grupo Bimbo; Hostess Brands; Kellogg Company; Mondelez International; Nestle SA; PepsiCo Inc.; Sara Lee Frozen Bakery; The Hershey Company; Tyson Foods Inc.; Unilever plc; Weston Foods Canada; Yamazaki Baking Co Ltd.; Aryzta AG; Campbell Soup Company

Bakery Contract Manufacturing Market 2024 Key Insights:

• The bakery contract manufacturing market size will grow to $36.93 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.
• Growing Bakery Product Consumption Fuels Expansion In The Bakery Contract Manufacturing Market
• Technological Advancements Drive Innovation In The Bakery Contract Manufacturing Market
• Europe was the largest region in the bakery contract manufacturing market in 2023

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